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Updated over 3 years ago,

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5
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Tara Adi
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5
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Condo Document - Rental Cap Clause

Tara Adi
Posted

Hi experts, 

I am looking to buy a newly constructed condo with 12 units in the building. There is a rental cap of 50%. I was informed by the realtor that the condo document could be amended to reflect that I can claim a spot in the 50% cap. Is there a specific language that can be used to do so? I just want to ensure that I am not forced to sell (especially at a loss) a few years down the lane, in case I have to move to a different state. I am aware that the HOA plays a big role in this too. But I just want something concrete written in my condo doc, so that I can hash it out with the HOA in future.

Appreciate your help! 

Best,

Tara